The rap news cycle never ends. Today, online personality Jonny Fastlane focuses on a few juicy topics including French Montana getting dissed and Kanye West hitting billionaire status.
Kanye West Hits A Billi + Scarface Nearly Died During COVID-19 Battle
In Jonny’s latest clips, he talks about Mr. West blowing up with a billion net worth. He also looks at French Montana catching shade from rapper Fivio Foreign. JF makes sure to address Rich The Kid having a legal run-in.
Billion Dollar Respect
According to a report by Forbes, Kanye now has some serious bragging rights to his name. After years of stacking up his investments and ventures, Mr. West’s net worth is now in the billion dollar category.
The declaration was the culmination of a years-long campaign by West to get added to the magazine’s annual Billionaires List, Forbes reported Friday. Forbes now says that the rapper and fashion designer is worth $1.3 billion, mostly because of his sole ownership of his brand Yeezy. West reportedly claims that he is worth $3.3 billion. Bloomberg, which seemingly reviewed the same documents provided to Forbes, acknowledged that West’s accountant provided documents showing that he has more than $3 billion worth of assets, but stopped short of explicitly calling West a “billionaire.” (Business Insider)
Wait, There’s More
The financial publication puts a bulk of West’s net worth in his popular Yeezy brand. Kanye also has millions in stocks, real estate and vehicles.
Before You Go
Amid Kanye West’s billionaire status, Forbes also delved into the business relationship between Kanye and Yeezy’s connection to Adidas.
Yeezy is a complicated asset. West owns 100% of it. But it’s functionally tied, at least for five-plus years based on the documents we saw, to Adidas, which produces, markets and distributes the shoes. There’s also a separate apparel division that we don’t believe makes money. Last year, our sources projected the shoes would finish 2019 with revenue north of $1.5 billion (Adidas would not comment then, or now)—per recent conversations and internal documents, we believe the final revenue number ended up closer to $1.3 billion. (Forbes)